Texas Permanent School Fund Corp Has $8.75 Million Stock Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Texas Permanent School Fund Corp decreased its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,545 shares of the company’s stock after selling 7,034 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of e.l.f. Beauty worth $8,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ELF. Truist Financial Corp increased its position in shares of e.l.f. Beauty by 18.8% during the 4th quarter. Truist Financial Corp now owns 7,245 shares of the company’s stock worth $1,046,000 after purchasing an additional 1,146 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $254,000. Principal Securities Inc. acquired a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $117,000. QRG Capital Management Inc. increased its position in shares of e.l.f. Beauty by 10.4% during the 4th quarter. QRG Capital Management Inc. now owns 3,025 shares of the company’s stock worth $437,000 after purchasing an additional 284 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of e.l.f. Beauty by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 952,863 shares of the company’s stock worth $137,538,000 after purchasing an additional 7,999 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

ELF opened at $110.38 on Wednesday. The business has a fifty day simple moving average of $168.12 and a 200 day simple moving average of $179.35. The company has a market capitalization of $6.22 billion, a PE ratio of 49.72, a price-to-earnings-growth ratio of 2.55 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. e.l.f. Beauty, Inc. has a 1 year low of $88.47 and a 1 year high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. Research analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the completion of the sale, the chief executive officer now directly owns 214,507 shares in the company, valued at approximately $37,538,725. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the transaction, the senior vice president now owns 71,986 shares of the company’s stock, valued at approximately $14,489,342.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tarang Amin sold 548 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the transaction, the chief executive officer now directly owns 214,507 shares of the company’s stock, valued at approximately $37,538,725. The disclosure for this sale can be found here. In the last three months, insiders sold 19,304 shares of company stock worth $3,864,492. 5.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on ELF shares. Bank of America lowered their price target on e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday. Truist Financial lifted their target price on e.l.f. Beauty from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Canaccord Genuity Group lifted their target price on e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. reduced their target price on e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $260.00 target price on shares of e.l.f. Beauty in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.